Kyle Bass, founder of Hayman Capital Management, announced during his March 2013 talk to the Chicago Booth’s Global Markets Initiative that he is bearish on Japan and has engaged in $500 billion notional tail-risk trades.

Lester Holt asked Mr. Trump whether he supported the Iraq War, and even seemed to debate him when Mr. Trump said he had not. But Holt did not ask Secretary Clinton the same question. At the time, she was a Senator, and she voted for the Iraq War. Unlike Trump, as a Senator, she had access to better information.

At issue is self-determination, the ability to make and enforce laws. It is unwise to ignore that 1,000 years of English Common Law, a legal system that was successfully exported around the world, was on the brink of eradication.

All the roads ahead will be hard for Greece. Some Greek corporations have already issued scrip, due to the shortage of Euros. Handelsblatt reported that Greek banks will be tapped out by the end of the day today.

I fled the Islamic Republic of Iran with a suitcase, a thousand dollars, and no regrets. But it wasn’t easy; I had to rebuild my life from scratch. Less than ten years later, I faced a decision that threatened to erase most of what I had accomplished, and I hesitated as I weighed the consequences.

Don’t you just love the phrase, “prepared to buy foreign currency in unlimited quantities.” Some central banks were prepared to sell in unlimited quantities, and SNB knew that when it penned its November 2014 press release.

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About Janet Tavakoli

Janet Tavakoli is one of the world's foremost experts in structured finance, complex derivatives, securitizations, credit derivatives, total return swaps, mortgage backed securities, and interest rate swaps. She is the president of Tavakoli Structured Finance, Inc. (TSF), a Chicago based consulting firm founded in 2003.